| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 8 October 2012 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 4.6539 hectares of land at 169B Union Road, RD3, Pukekohe. |
| Consideration | $950,000 |
| Applicant | Nancy Wong Hong Kong (SAR) (100%) |
| Vendor | Alistair Fleming & Lynda Fleming New Zealand (100%) |
| Background | The Applicant is the majority shareholder and director of New Zealand registered company Ultra Merit International Limited which owns a thoroughbred horse break-in, spelling and training facility on the adjoining property. The Applicant is also a director and majority shareholder of The Thoroughbred Trader Limited. The investment will enable the expansion of these businesses. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Tessa Kennings Chapman Tripp PO Box 2206 Auckland 1140 |